Inside it features a dual-core A5 chip, with FaceTime HD front-side camera. The rear iSight camera is 5-megapixel and there is, as expected, a Lightning connector at the bottom.

Apple claims the battery lasts up to 10 hours between charging. And there will be an LTE 4G version alongside Wi-Fi internet connectivity. It will also come in both black and white, and the bezel is much thinner than conventional tablets, including Apple's own.

"It's every inch an iPad," said marketing chief Phil Schiller.

The iPad mini will cost $329 for the 16GB Wi-Fi model. The 32GB Wi-Fi edition will be $429, with the 64GB model at $529. The Wi-Fi plus cellular versions will be $459, $559 and $659 respectively.

It will be available for pre-order on 26 October, with shipping starting on 2 November for the Wi-Fi version.

UPDATE UK prices are now in. The 16GB Wi-Fi model will cost £269. Then it's £349 and £429 for the 32GB and 64GB versions respectively.

The "cellular" versions will be £369, £449 and £529 and will ship a couple of weeks after the Wi-Fi-only tablets.

LTE (4G) is currently listed as available through "select carriers". We're waiting to find out if that includes EE's new UK network.

What do you think? Worth the wait? Let us know in the comments below...